Telecom industry’s debt at unsustainable level: SBI

June 11, 2017

The country’s largest bank SBI has sounded alarm bells over troubles of the telecom industry with its chairperson Arundhati Bhattacharya writing to the government regarding “highly unsustainable levels” of debt of mobile companies. Telecom industry’s debt to the banking sector is estimated at Rs 4 lakh crore.
SBI is understood to be carrying the largest exposure to the telecom industry, and Bhattacharya is now seeking duty waivers and deferred spectrum payments to save the bleeding telecom companies. Source

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